Texas Power Giant Could Be Split Up

By

Mike Spector And

Matt Wirz

Updated Feb. 8, 2013 7:39 p.m. ET

Energy Future Holdings Corp., the struggling Texas power company involved in a record leveraged buyout, could end up splitting as it faces significant choke points on debt and seeks counsel from Wall Street restructuring advisers.

The former TXU Corp. has been getting advice from big-name law firms and investment banks ahead of May, when it must start making cash payments on certain debt. In addition, the company faces nearly $4...